Illinois tenant lease bonds.
From $100.
A tenant lease bond is a contractual alternative to a cash security deposit: it guarantees the landlord that the tenant will meet the lease's financial obligations. This is not a state-mandated bond; the amount is whatever the lease or landlord sets. Pricing is 2% of the bond amount, $100 minimum.
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How much does an Illinois tenant lease bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps to a bonded lease.
No statutory queue — this is a private lease bond. Here's the entire process:
Apply once, online
Your details, the bond amount your lease requires, and the effective date. The only extra step is a one-time consent to a soft credit pull.
Approved
Most are approved as soon as you apply. One soft credit pull, never a hard inquiry, and it never affects your score. If it needs a second look, one to two business days at most.
E-sign & deliver to your landlord
Pay online and receive the executed bond, ready to give your landlord in place of a cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the tenant lease bond actually does
A tenant lease bond is a private, contractual instrument — it lets a tenant satisfy a landlord's security requirement with a surety bond instead of a large cash deposit. The tenant pays a premium; the landlord gets a guarantee it can claim against if the tenant defaults on rent or damages the unit.
This is not an Illinois-mandated bond. Illinois law governs cash security deposits — the Security Deposit Return Act (765 ILCS 710) and Security Deposit Interest Act (765 ILCS 715), plus local ordinances like Chicago's RLTO — but it does not require a lease bond. Whether one is accepted is up to the landlord and the lease.
Because it's contractual, the amount is whatever the lease or landlord sets — often tied to a month or two of rent, or to the deposit the bond replaces. Like every surety bond, it is not insurance for the tenant: if the surety pays the landlord, the tenant repays the surety. We issue whatever amount your lease names at 2% of the bond amount, $100 minimum, confirmed via a soft credit check that never affects your score.
You might use this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
E-sign & deliver to your landlord. Pay online and receive the executed bond, ready to give your landlord in place of a cash deposit. Wet-ink originals mailed on request.
What sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is issued when you pay.
Start the application →Common questions.
Other Illinois bonds.
The same bond in nearby states.
Price and requirements checked on the carrier’s application, . Page updated .
Tenant lease bond, issued today.
From $100. Confirm the amount with your landlord and deliver it in place of a deposit.